Exane Asset Management Acquires Shares of 177,789 Rent-A-Center Inc (RCII)
Exane Asset Management acquired a new position in shares of Rent-A-Center Inc (NASDAQ:RCII) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 177,789 shares of the company’s stock, valued at approximately $2,617,000. Rent-A-Center comprises 1.2% of Exane Asset Management’s investment portfolio, making the stock its 21st largest holding. Exane Asset Management owned 0.33% of Rent-A-Center at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in RCII. Schwab Charles Investment Management Inc. increased its position in Rent-A-Center by 0.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 1,553,563 shares of the company’s stock worth $13,408,000 after purchasing an additional 12,149 shares during the last quarter. BlackRock Inc. increased its position in Rent-A-Center by 0.5% during the first quarter. BlackRock Inc. now owns 6,500,590 shares of the company’s stock worth $56,099,000 after purchasing an additional 30,285 shares during the last quarter. OppenheimerFunds Inc. increased its position in Rent-A-Center by 12.0% during the first quarter. OppenheimerFunds Inc. now owns 183,642 shares of the company’s stock worth $1,585,000 after purchasing an additional 19,615 shares during the last quarter. Principal Financial Group Inc. increased its position in Rent-A-Center by 2.6% during the first quarter. Principal Financial Group Inc. now owns 409,408 shares of the company’s stock worth $3,533,000 after purchasing an additional 10,490 shares during the last quarter. Finally, Alta Fundamental Advisers LLC acquired a new stake in Rent-A-Center during the first quarter worth about $4,732,000. Hedge funds and other institutional investors own 95.97% of the company’s stock.
Shares of RCII stock opened at $14.49 on Thursday. The company has a quick ratio of 0.67, a current ratio of 2.60 and a debt-to-equity ratio of 2.15. The stock has a market cap of $779.60 million, a price-to-earnings ratio of -26.80 and a beta of 0.59. Rent-A-Center Inc has a 1-year low of $7.22 and a 1-year high of $14.94.
In other news, insider Engaged Capital Llc sold 4,450,000 shares of the firm’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $14.67, for a total value of $65,281,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.88% of the company’s stock.
Several research analysts have weighed in on RCII shares. BidaskClub lowered shares of Rent-A-Center from a “buy” rating to a “hold” rating in a research note on Friday, June 1st. ValuEngine raised shares of Rent-A-Center from a “hold” rating to a “buy” rating in a research note on Tuesday, July 31st. Northcoast Research lowered shares of Rent-A-Center from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 19th. Loop Capital increased their target price on shares of Rent-A-Center to $11.00 and gave the stock a “hold” rating in a research note on Monday, June 11th. Finally, Raymond James lowered shares of Rent-A-Center from an “outperform” rating to a “market perform” rating in a research note on Monday, June 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company. Rent-A-Center has a consensus rating of “Hold” and a consensus target price of $11.00.
Rent-A-Center Company Profile
Rent-A-Center, Inc, together with its subsidiaries, leases household durable goods to customers on a rent-to-own basis. The company operates through four segments: Core U.S., Acceptance Now, Mexico, and Franchising. It offers durable products, such as consumer electronics; appliances; computers, including tablets; smartphones; and furniture, including accessories under rental purchase agreements.
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